Cenovus Energy Inc. (TSE:CVE) Given Average Rating of “Buy” by Analysts

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) have received an average rating of “Buy” from the fourteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$44.88.

CVE has been the topic of a number of analyst reports. Desjardins set a C$50.00 target price on shares of Cenovus Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Royal Bank Of Canada increased their price target on Cenovus Energy from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. National Bank Financial set a C$60.00 price target on Cenovus Energy and gave the company an “outperform” rating in a report on Tuesday, August 25th. Gerdes Energy Research upgraded Cenovus Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$42.00 to C$46.00 in a research report on Monday, June 29th. Finally, Raymond James Financial upped their price objective on Cenovus Energy from C$41.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th.

Cenovus Energy Stock Up 0.8%

TSE CVE opened at C$46.27 on Tuesday. The stock’s 50-day moving average price is C$42.13 and its 200-day moving average price is C$38.50. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 34.01. Cenovus Energy has a 52 week low of C$21.62 and a 52 week high of C$47.20. The company has a market capitalization of C$85.33 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 0.09 and a beta of 0.19.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.53 earnings per share for the quarter. The firm had revenue of C$17.43 billion for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. On average, equities research analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is presently 22.78%.

Insider Buying and Selling at Cenovus Energy

In other news, insider John F. Soini sold 26,223 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the transaction, the insider owned 2,114 shares of the company’s stock, valued at approximately C$94,960.88. The trade was a 92.54% decrease in their ownership of the stock. Also, insider Jonathan Michael Mckenzie sold 104,974 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$43.49, for a total transaction of C$4,565,319.26. Following the transaction, the insider owned 843,824 shares of the company’s stock, valued at approximately C$36,697,905.76. This represents a 11.06% decrease in their position. Insiders sold a total of 601,524 shares of company stock valued at $25,546,211 in the last three months. 32.03% of the stock is currently owned by corporate insiders.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.